The present invention provides a process for producing liquid hydrocarbon products from solid biomass and/or residual waste feedstocks, said process comprising the steps of: a) hydropyrolysing the solid feedstock in a hydropyrolysis reactor vessel in the presence of molecular hydrogen and one or more deoxygenation catalyst, producing a product stream comprising partially deoxygenated hydropyrolysis product, H2O, H2, CO2, CO, C1-C3 gases, char and catalyst fines; b) removing said char and catalyst fines from said product stream; c) hydroconverting said partially deoxygenated hydropyrolysis product in a hydroconversion reactor vessel in the presence of one or more hydroconversion catalyst and of the H2O, CO2, CO, H2, and C1-C3 gas generated in step a), producing a vapour phase product comprising substantially fully deoxygenated hydrocarbon product, H2O, CO, CO2, and C1-C3 gases; d) condensing the vapour phase product of step d) to provide a liquid phase product comprising substantially fully deoxygenated C4+ hydrocarbon liquid and aqueous material and separating said liquid phase product from a gas phase product comprising H2, CO, CO2, and C1-C3 gases; e) removing the aqueous material from the substantially fully deoxygenated C4+ hydrocarbon liquid; and f) hydroprocessing at least a portion of the substantially fully deoxygenated C4+ hydrocarbon liquid in a hydroprocessing reactor vessel in the presence of hydrogen and one or more hydroprocessing catalysts, each hydroprocessing catalyst comprising at least one reduced metal on a solid support, in order to provide an upgraded liquid hydrocarbon stream.